V God brings live performance of "City in the Sky"
Asia's largest Web3 exhibition TOKEN2049 officially kicked off. Vitalik Buterin, the founder of Ethereum, shared his views on the future of Ethereum and the encryption industry in a speech. What’s even more interesting is that this golden boy in the currency circle, who is worth at least 830 million yuan, even sang two songs on the stage, which caused continuous cheers from the audience.
V God, who has a star aura, attracted a large number of users to the main stage half an hour before the lecture started. Not only were all the seats under the stage filled, but even the "standing seats" were full, and it was difficult to come late. Impossible to squeeze in.
The most interesting part is that Buterin revealed that when he originally named "Ethereum", there was an amazing coincidence with the Japanese classic animation "Castle in the Sky".
He recalled that in 2013, he accidentally saw the fictional element "Ethereum" on Wikipedia. He thought the name was interesting and reminded him of an invisible substance described in scientific theories in the 19th century, so he decided to Use this name to name your own blockchain project.
Even more coincidentally, when he watched "Castle in the Sky" for the first time many years later, he found that the ether element crystal in the animation was very similar to the Ethereum logo, which surprised and amused him.
Then, he sang the theme song of the anime "Castle in the Sky" directly in Japanese, which made the audience exclaimed and picked up their mobile phones to record the video, adding a lot of lightness to the originally serious topic of blockchain. .
Challenges of Cryptocurrency Development
Looking back on the early days of Bitcoin, Buterin said that in 2013, the Bitcoin community was full of enthusiasm for the dream of encrypted payments and hoped to allow merchants around the world to accept Bitcoin payments.
Buterin said, “At that time, everyone felt that Bitcoin was the next payment revolution.” Many merchants proudly advertised that they accepted Bitcoin payments.
However, with the increase in transaction fees and technical limitations, these idealistic attempts have gradually encountered practical challenges.
Buterin pointed out that this phenomenon has continued to recur during the development of Bitcoin and Ethereum, and the transaction fees of Ethereum have become quite expensive for a time. He himself even paid a handling fee of up to 800 US dollars to conduct privacy-protecting transactions. .
It is this phenomenon that limits the feasibility of decentralized payment in a short period of time.
However, despite the technical challenges faced in the past, Buterin is optimistic about the future of blockchain technology. He emphasized that the emergence of Layer 2 technology, especially Ethereum Layer 2 blockchains like Optimism or Arbitrum, has allowed transaction fees to drop significantly. Improvements in these technologies make decentralized applications (Dapps) more feasible and inject new vitality into the development of the entire ecosystem.
In addition, the application of multi-signature wallets and privacy protection technology are also improving user experience and security. Buterin even emphasized, "Today's decentralized applications are almost comparable to traditional ones in terms of user interface and experience." Web 2.0 applications.
The future of the cryptocurrency industry?
As for the future of blockchain technology, Buterin believes that decentralized applications will continue to develop and gradually solve the current technical limitations.
He pointed out that technical bottlenecks in the past, such as switching between different blockchain networks and high transaction fees, are gradually being overcome. "Two years ago, everyone was complaining about the need to manually switch networks. Now we don't need to worry about it anymore."
In addition, with the popularization of Layer 2 technology, user experience will continue to improve, making decentralized applications more attractive.
However, V God finally mentioned a key challenge in the future: how to find a balance between decentralization and practicality.
He vividly compared this challenge to "taking two pills", which requires maintaining the concept of decentralization without sacrificing practicality.
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